Jon Rubinstein's new salary: $850,000 per year, Pre-tax

The Palm Pre might not be a million dollar idea, but it's close. It'll bag Jon Rubinstein, Palm's new CEO, a cool $850,000 in salary each year according to Palm's Form 8-K just released. Pretty weak sauce for corporate CEOs until you factor in his 100% annual bonus eligibility and stock option grant of 430,000 shares vested monthly over the next 4 years. Given that Rubinstein has been credited with saving Palm from itself, we'd say he's worth every penny. Former CEO Ed Colligan, on the other hand, the man who laughed off the iPhone in November 2006 saying, "PC guys are not going to just figure this out. They're not going to just walk in," will receive $1.2 million just for leaving the seat warm upon exit.